GBPUSD Daily Analysis – May 15, 2020

GBPUSD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.2642. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.2100 area. Only break above the trend line resistance would indicate that the downside movement had completed at 1.2165 already, then another rise towards 1.2600 could be seen.

GBPUSD 4-hour chart